Recent surveys have shown improved sentiments in India’s realty sector with greater flow of foreign direct investment.
The real impact of latest FDI liberalisation measures in real estate will be reflected over a period of time, the industry feels, as per the survey.
It showed that the industry is happy and satisfied with current FDI reforms in the construction development sector
A majority of developers are happy with the recent steps of the Central government and are satisfied with the policy development.
There is increased confidence and optimism in industry towards future flow of FDI in real estate. They feel that FDI reform measures will certainly increase flow of FDI into realty sector in coming months.
Commercial, retail and residential real estate will gain significantly from the liberalisation of FDI in the sector, the survey showed.
100 per cent FDI under automatic route in completed projects for operation and management of townships malls/shopping complexes and business centres is a significant step taken by the government, the industry feels.
This sector is demanding quick implementation of the Real Estate Regulatory Bill (RERA) to enable the realty market to attract more FDI. The government should bring more clarity over the entry and exit norms and processes to be followed by investors.
The survey revealed that the realty sector wants that the central and state governments should work together to ensure removal of bottlenecks for faster implementation of reform measures for foreign investments.
The government should also consider a reduced lock-in-period applicable for FDI investments from 3 years from the current 1-2 years to further enhance investor interests.
Stressing on the need to build quality, safe and affordable houses for all, Gujarat Chief Minister Vijay Rupani has termed “affordable housing” as an essential requirement in the time to come. “The state government approved 100 town planning schemes in 2018. 400 TP...